Office of the City Clerk - Record #: O2022-3589

• Record #: O2022-3589
• Type: Ordinance
• Status: Passed
• Intro date: 10/26/2022
• Current Controlling Legislative Body: Committee on Finance
• Final action: 11/16/2022
• Title: Discount transfer sale and new loan refinance regarding Churchview Supportive Living Facility LP and Greater Southwest Development Corporation utilizing multi-family housing revenue bonds to rehabilitate facility at 2626 W 63rd St
• Sponsors: Lightfoot, Lori E.

Date	Journal Page Number	Action By	Action	Result
11/16/2022	56128	City Council	Passed	Pass
11/14/2022		Committee on Finance	Recommended to Pass
10/26/2022	52723	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
October 26, 2022










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Housing, I transmit herewith an ordinance authorizing the issuance of financial assistance for the rehabilitation of Churchview Supporti Living apartment building.

Your favorable consideration ofthis ordinance will be appreciated.

Mayor


Very truly yours.
ORDINANCE

WHEREAS, by virtue of Section 6(a) of Article VII ofthe 1970 Constitution ofthe State of Illinois (the "Constitution"), the City of Chicago (the "City") is a home rule unit of local government and as such may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the City has determined that the continuance of a shortage of affordable rental housing is harmful to the health, prosperity, economic stability and general welfare of the City; and

WHEREAS, the City has certain funds available from a variety of funding sources (the "Multi-Family Program Funds"), including funds available from Community Development Block Grant funds under Title I ofthe Housing and Community Development Act of 1974, 42 U.S.C. §5301 et seq., as from time to time amended, supplemented and restated, which created the Community Development Block Grant Program (the "CDBG Program") to make loans and grants for the development of multi-family residential housing to increase the number of families served with decent, safe, sanitary and affordable housing and to expand the long-term supply of affordable housing, and such Multi-Family Program Funds are administered by the City through its Department of Housing (the "DOH"); and

WHEREAS, Churchview Supportive Living Facility L.P., an Illinois limited partnership (the "Seller") owns and operates a residential rental facility consisting of 86 units located at 2626 W. 63Rd Street, in the City of Chicago, County of Cook, State of Illinois (th...